Common Sized Income Statements General Hills Inc. (GIS) produces, markets, and distributes cereal and food products including Cheerios, Wheatles, Cocos Puffs, Yoplait, and Pillsbury branded products, The following partial income statements on milions) were adapted from recent financial statements Year 1 Year 2 Sales $15,620 $15,740 Cost of goods sold (10,056) (10,313) Gross profit 55,564 $5,427 Selling and administrative expenses (2,801) (2.753) Operating income $2,763 $ 2,674 1. Prepare common-red income statements for Year 1 and 2 Round your answers to one decimal place General Hills Inc Common-sized Income Statement Year 1 and 2 Year 1 Year 2 Increase (Decrease) Sales 100 100 Cost of goods sold U X L1 X Gross profit 34 X X Selling and administrative expenses 2 X Operating income X > > OMWA Previous Not > Check My Work